“I can assure you that we will do something about it. Nigeria is our country. It’s the only country we have. I understand that the government is frustrated. We have to do something to make sure the price is lower, while shareholders also get dividends,” Rabiu said while assuring that with the planned opening of Line-3 on Obu and Line-5 in Sokoto plants, the prices of cement would reduce, thereby forcing other manufacturers to also cut the prices,” Rabiu said yesterday in Abuja.
Based on that, shareholders of the company at the 7th annual general meeting of the company approved the payment of a total dividend of N2.80 per ordinary share compared to N2.60 per ordinary share in the previous year. Given the expansion drive at the Sokoto and Obu plants, once completed, BUA Cement’s total installed production capacity will increase to 17 million metric tonnes per annum and firmly position the company to increase its export volumes to neighbouring African countries.
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